Weekly Market Update

Mortgage rates saw a modest but encouraging dip last week, showing impressive stability despite ongoing global developments. Markets responded positively to Fed Chair Powell’s remarks before Congress, where he shared that rate cuts would likely already be in motion if not for temporary trade and tariff uncertainties. The Fed is taking a thoughtful, data-driven approach—remaining optimistic while closely watching inflation trends. Although PCE core prices came in slightly above expectations, one month of data isn’t enough to signal a lasting shift, and there's still plenty of room for improvement ahead.

There’s more good news in housing: Existing Home Sales exceeded forecasts, highlighting continued buyer interest and strength in the real estate market. While Consumer Confidence edged back and Q1 GDP was adjusted to 0.5%, these updates suggest a healthy slowdown rather than any serious weakness—giving the economy room to breathe and grow sustainably.

Looking to the week ahead, all eyes are on the monthly jobs report and ISM indices. The labor market has shown remarkable resilience, with only minor signs of softening. If job creation stays on track and unemployment holds steady, mortgage rates could continue trending downward. And if the ISM indices come in below 50.0—indicating cooling in both manufacturing and services—we may see even more favorable conditions for borrowers.

If you, or anyone you know, is interested in obtaining mortgage financing, reach out to my team today at 541-815-6596. We're here to help you take advantage of today’s opportunities and find the right solution for your home financing needs.